Lowe Enterprises Selects Campus Advantage to Operate Significant Portfolio of Student Housing Properties

Lowe Enterprises, a diversified national real estate services organization, today announced it has selected Campus Advantage to take over operation of a prominent portfolio of student housing properties. Beginning in November of 2008 the properties will commence operations under a new name — The District.

The four student housing properties, comprising one of the best known student housing portfolios in the industry, serve more than 4,100 students in college communities across the country, including College Station, Texas; Gainesville, Florida; Jacksonville, Florida and Minneapolis, Minnesota.

“Campus Advantage is a world-class student housing manager well suited to guide these properties to even greater success. Armed with a new branding program and a successful history of partnering with universities, we will work closely with Campus Advantage to ensure that The District continues to provide an environment where students thrive,” said Alon Kraft, vice president of Lowe Enterprises Investors.

“This is a significant assignment for Campus Advantage and represents a thirteen percent increase in the number of beds we manage,” said Mike Peter, president and CEO of Campus Advantage. “More than anything else, we deeply appreciate the vote of confidence that Lowe Enterprises has demonstrated with this selection and reiterate our commitment to offering optimum management services.”

Working closely with c.a.k. + associates, a Campus Advantage partner company, “The District” brand will be adopted across the entire student housing portfolio. Campus Advantage will apply its proven track record of management and residence life programs in order to maintain the strong sense of community at these properties. Students will also have the opportunity to participate in programs and initiatives that reach across the entire property portfolio.

The portfolio was acquired in 2005 through a venture led by Lowe Enterprises on behalf of an investment client.